Sokha is married and has been blessed with two kids — one is a schoolboy, and the other one is under-aged for schooling. Sokha is a rice grower from Moung Russey district, in Battambang province. She has managed a five-hectare area for growing only paddy rice, while her husband works for others for a fee for extra income, during his spare time. Having engaged for 10 years in the current business, she earns about 28,000 KHR per day.
Sokha and her fellow group member are on their third loan cycle with VisionFund (Kiva’s partner). She has completely repaid her previous loan, and it has sustained her living in a good manner. As a group leader, she will use her portion of this new loan to buy fertilizer and pesticide, and to pay the fee for plowing the land. She highly hopes that she can gain triple yield, compared to her previous harvest.
About VisionFund Cambodia
VisionFund Cambodia is a Christian organization and microfinance institution that provides small loans and other financial services to improve the lives of children, empower poor women and their families, and grow successful businesses. The organization works primarily in rural parts of Cambodia and has distinguished itself by targeting the very poor who require smaller loan sizes, regardless of religious beliefs, gender or ethnic background.
Kiva lenders’ funds will help the organization to expand into the northeastern provinces of the country, which have historically been underserved and difficult to reach with financial services.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.